EXHIBIT 10.47
VISIJET, INC.
INTERNATIONAL DISTRIBUTOR AGREEMENT
THIS INTERNATIONAL DISTRIBUTOR AGREEMENT (hereinafter "agreement")
is entered into on this ______________ day of _____________ 2004, by and between
VISIJET, Inc. (hereinafter "Company"), and ______________________, (hereinafter
"Distributor").
RECITALS
WHEREAS, Company is a corporation duly organized, validly existing, and
in good standing under the laws of the State of Delaware.
WHEREAS, Distributor is an entity duly organized, validly existing, and
in good standing under the laws of ;
WHEREAS, Company manufactures and owns the rights to certain products
and services with medical applications, described on EXHIBIT A attached hereto
(collectively, the "Products") and;
WHEREAS, Company and Distributor wish to enter into an exclusive
agreement whereby Distributor will be a stocking distributor and will manage the
selling cycle and sell the Products in , the ("Territory") on the terms and
conditions set forth herein;
NOW, THEREFORE, the parties agree as follows:
SECTION 1. EXCLUSIVE APPOINTMENT. The Company appoints the
Distributor as an exclusive distributor of the Products. The Distributor may
sell the products of the Company covered by this Agreement only within the
Territory as stated in EXHIBIT B attached to this Agreement.
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SECTION 2. PRODUCTS COVERED. The products of the Company covered by
this Agreement are listed on EXHIBIT A. The products are subject, at the
Company's sole discretion, to modification or change in part numbers, design or
specifications. Products listed in EXHIBIT A are subject to individual removal
from this agreement for failure of Distributor to meet the Minimum Sales
Requirements in EXHIBIT C or for reasons of VisiJet's possible future
discontinuance or transference of a product.
SECTION 3. DURATION OF AGREEMENT. This Agreement shall become
effective on the date of the last signatory hereto and shall terminate 3 years
after the date that the Company obtains applicable regulatory approval subject
to the Distributor's achievement of the Minimum Sales Requirements on EXHIBIT C
which has been mutually agreed upon by both parties, as well as the performance
of all other general obligations in this Agreement. After the 3 year period has
expired this Agreement shall renew automatically on an annual basis unless
either party furnishes written notice to the other at least ninety (90) days
prior to the termination date of their intent not to renew the Agreement.
However, in the event of a change of ownership or acquisition of the Company,
this Agreement and its terms shall continue in force for the duration defined
above.
SECTION 4. TERMINATION. This Agreement may be terminated by either
party with ninety (90) days written notice. However Company may not terminate
without good cause. 4.1 EXISTING INVENTORY. In the event of the termination of
this Agreement by the Company, the Company will make every effort to coordinate
the transfer of any remaining inventory to another firm for a reasonable price.
SECTION 5. PRICE LIST. The current price list and terms are
attached to this Agreement as EXHIBIT D. The Company reserves the right to
change the price list or terms at its sole discretion with ninety (90) days
written notice to the Distributor.
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SECTION 6. PURCHASE AND SALE OF THE PRODUCTS.
6.1 PURCHASE ORDERS. Orders for Product shall be submitted on
Distributor's written Purchase Order by mail or fax (with original following by
mail) and paid for in accordance with the payment terms specified in Section
6.5. All Purchase Orders shall be consistent with the provisions of this
Agreement and any inconsistent terms shall be deemed stricken. All Purchase
Orders are subject to acceptance or rejection by the Company in its sole and
absolute discretion.
6.2 ORDER CANCELLATION. The Company may cancel any accepted orders
or refuse or delay shipment of any orders if Distributor fails to meet any
obligation arising under this Agreement.
6.3 PRODUCT DELIVERY. The Products purchased by Distributor
hereunder shall be delivered F.O.B., Irvine, California, U.S.A or Neuhausen,
Germany. All delivery dates are estimates only.
6.4 TITLE AND RISK OF LOSS. Distributor shall take title to the
Products upon delivery and all risks of loss and expenses in connection with
such Products shall thereafter rest upon Distributor including storage, cartage
and transportation of the Products as well as all insurance, fees, charges, and
taxes. The Company will invoice Distributor for such expenses at the time
Products are shipped.
6.5 PAYMENT TERMS. All invoices for product purchases are payable
by Letter of Credit or net thirty (30) days from the date of invoice, in U.S.
Dollars by wire transfer of funds or draft (see banking information in EXHIBIT
E). Expenses pursuant to section 6.4 are payable net thirty (30) days of the
invoice date.
SECTION 7. DESIGN CHANGES. The Company shall advise the Distributor
of all major contemplated changes of design which result in a change in price
thirty (30) days prior to marketing of such redesigned Product.
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SECTION 8. GENERAL OBLIGATION OF THE COMPANY. As an inducement to
the Distributor to enter into this Agreement and to consummate the transactions
contemplated hereby, Company hereby represents, warrants and covenants to
Distributor as follows:
(a) Company shall provide, in reasonable quantities,
sales and promotional material in English and/or
camera-ready art for translation or reproduction.
(b) The Company shall be solely responsible for its
expenses and those of its staff and agents. (c)
Company shall be responsible for all patent
infringement claims from third parties in..
SECTION 9. GENERAL OBLIGATION OF DISTRIBUTOR.
(a) Distributor represents that it has experience in
marketing and selling similar products, and the
financial resources to market the Product; and shall
use its reasonable best efforts to market and sell
the Products in the Territory and to achieve the
maximum sales potential in the Territory;
(b) Distributor will maintain Minimum Sales Requirements
as specified in EXHIBIT C.
(c) Distributor shall maintain an active sales
organization composed of individuals knowledgeable
with respect to the functional capabilities and
operation of the Products, and the procedures in
which they are used;
(d) So long as it is a distributor of the Company's
Products, the Distributor, its agents, employees,
affiliates, officers or directors shall not promote
or sell any other epithelial separation devices which
would be competitive with the Company's Products;
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(e) Distributor shall deliver, at reasonable intervals of
time, true and correct reports of sales, pricing, and
other information reasonably requested by Company
pertaining to the distribution and marketing of the
Products in the Territory.
(f) Distributor shall purchase at least one ▇▇▇▇▇▇▇
Combination System for demonstration purposes and to
maintain a backup system in the event of temporary
failure of an installed unit. Distributor shall also
stock a reasonable supply of EpiLift Separators, and
LasiTome blades for these demonstration units, as
well as requisite spare parts and tool kits.
(g) Distributor shall at all times maintain at least one
service engineer trained in the repair and servicing
of Company's Products. Distributor shall sponsor said
engineer for associated travel expenses for minimum
2-day training in the Company's headquarters in
Irvine, California or a location to be dtermined.
Training shall occur within one month of the launch
of the LasiTome System and EpiLift System in the
Territory.
SECTION 10. ADDITIONAL DUTIES OF COMPANY AND DISTRIBUTOR.
Distributor and Company shall, to the best of their ability, maintain in strict
confidence and duly safeguard any and all confidential information of the other
party and shall not use or disclose said information to others. Upon termination
of the Agreement, both parties agree to return any documents of the other party
containing any confidential information of such party.
(a) Distributor and Company shall comply with all
applicable laws, statutes, regulations and treaties
relating to production, marketing, sales and
distribution of the Products in the Territory.
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(b) Distributor shall provide Company with all regulatory
approvals in Company's name in respective Territory
and comply in all respects with all local government
and health agency requirements as specified in
EXHIBIT G.
SECTION 11. REGULATORY REQUIREMENTS AND APPROVAL. Company shall
provide Distributor with functional quality Products, which comply in all
respects with Good Manufacturing Practices (the "GMP"). Company shall work in
good faith and shall use its best efforts to promptly obtain and maintain the
approval of any new Products by the FDA.
SECTION 12. INSURANCE. Company agrees to carry product liability
insurance in the minimum amount of $1,000,000.
SECTION 13. NOTICES. Any notice, request, demand, or other
communication required or permitted hereunder shall be deemed to be properly
given when received by fax or received by mail, postage prepaid, or when
deposited with a public telegraph company for transmittal, charges prepaid,
addressed:
COMPANY: VISIJET, INC.
▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇
▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ - USA
Attn: Mr. ▇▇▇▇▇ ▇▇▇▇▇▇
DISTRIBUTOR: ________________________________
________________________________
________________________________
________________________________
SECTION 14. DISTRIBUTOR NOT AN AGENT. This Agreement does not
establish the Distributor as the agent or legal representative of the Company,
or the Company as the agent or representative of the Distributor for any purpose
whatsoever. Neither party is granted any express or implied right or authority
by the other party to assume or to create any obligation or responsibility on
behalf of or in the name of the other party, or to bind the other party in any
manner or thing whatsoever.
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SECTION 15. ENTIRE AGREEMENT. All of the terms, provisions, and
conditions agreed on by the parties hereto are expressed herein and except as
contained in this instrument, there are no other or further understandings.
SECTION 16. DISTRIBUTOR COMPENSATION. The Distributor's
compensation will be derived by marking up the price of the products and
re-selling them for a profit.
SECTION 17. CONFIDENTIALITY. Distributor acknowledges that it may
have access to information of VisiJet relating to the Product, which is of a
confidential and proprietary nature ("Proprietary Information"). Such
Proprietary Information includes, without limitation, promotional material,
video tapes, customer lists, software, trade secrets, know-how, drawings,
schematics, data coding, technical documentation and instructional material.
Distributor agrees to take reasonable care to prevent disclosure to and use by
others of the Proprietary Information. Distributor shall take appropriate steps
to ensure that the confidentiality of the Proprietary Information is maintained
by its employees and all permitted users of the Product. Distributor shall
obtain from each current key employee (executive management, marketing and sales
personnel, engineering management and any other individual who will have access
to this information), independent contractor or agent of Distributor and any key
employee hereafter employed, or any independent contractor or agent hereafter
engaged, as to whom "Proprietary Information" as above defined is disclosed by
Distributor, a confidentiality agreement in the form attached hereto as EXHIBIT
F and to have said agreements at all times on file with Distributor and
available for inspection by Company.
SECTION 18. COUNTERPARTS. This Agreement may be executed in two or
more counterparts, each of which shall be deemed and original and all of which
together shall constitute but one and the same instrument.
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IN WITNESS WHEREOF, the parties hereby execute this Agreement as of
the date set forth above.
VISIJET, INC.
By____________________________ Date ________________________
(NAME OF DISTRIBUTOR)
By____________________________ Date________________________
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EXHIBIT A
---------
PRODUCTS
--------
EPILIFT SYSTEM(R)
EPI LIFT SEPARATORS
LASITOME(R) SYSTEM
LASITOME BLADES
COMBINATION SYSTEM
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EXHIBIT B
---------
TERRITORY
---------
MEXICO
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EXHIBIT C
---------
MINIMUM SALES REQUIREMENTS
--------------------------
To maintain exclusivity, , must order at least 1 demonstration system prior to
December 31, 2004, and order at least ___ systems in each of the calendar years
of 2005, 2006 and 2007.
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EXHIBIT D
---------
PRICING
-------
VISIJET
INTERNATIONAL DISTRIBUTOR PRICE LIST
EFFECTIVE JUNE 2, 2004
LASITOME AND EPILIFT PRICES
---------------------------
CATALOG # SUGGESTED MSRP DEALER PRICE %DISCOUNT
--------- -------------- ------------ ---------
----------------------------------------------------------------------------------------------------------------------------
EPILIFT, COMPLETE SYSTEM EP-0001
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
LASITOME COMPLETE SYSTEM LT-0001
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
COMBINATION, COMPLETE SYSTEM EL-0001
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
ACCESSORIES:
----------------------------------------------------------------------------------------------------------------------------
PRODUCT DESCRIPTION
----------------------------------------------------------------------------------------------------------------------------
LasiTome cutting head (Standard) LT-1001
----------------------------------------------------------------------------------------------------------------------------
LasiTome cutting head H (High) LT-1005
----------------------------------------------------------------------------------------------------------------------------
EpiLift head EP-1001
----------------------------------------------------------------------------------------------------------------------------
Suction rings (19/3) EP1193
----------------------------------------------------------------------------------------------------------------------------
Suction rings (19/4) EP-1194
----------------------------------------------------------------------------------------------------------------------------
Suction rings (20) EP-1200
----------------------------------------------------------------------------------------------------------------------------
Suction rings (21/3) EP-1213
----------------------------------------------------------------------------------------------------------------------------
Suction rings (21/4) EP-1214
----------------------------------------------------------------------------------------------------------------------------
Handpiece EP-1055
----------------------------------------------------------------------------------------------------------------------------
Handle Attachment EP-1005
----------------------------------------------------------------------------------------------------------------------------
Console-EpiLift EP-0005
----------------------------------------------------------------------------------------------------------------------------
Console-LasiTome LT-0005
----------------------------------------------------------------------------------------------------------------------------
Console-Combination Console EL-0005
----------------------------------------------------------------------------------------------------------------------------
Footswitch-Vacuum EP-1045
----------------------------------------------------------------------------------------------------------------------------
Footswitch-Cut EP-1050
----------------------------------------------------------------------------------------------------------------------------
Metal Band EP-1040
----------------------------------------------------------------------------------------------------------------------------
Autoclavable Cover for Handpiece EP-1030
----------------------------------------------------------------------------------------------------------------------------
Steri Tray EP-1035
----------------------------------------------------------------------------------------------------------------------------
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----------------------------------------------------------------------------------------------------------------------------
LASIK BLADES
----------------------------------------------------------------------------------------------------------------------------
Each Price (not sold individually)
----------------------------------------------------------------------------------------------------------------------------
Box of 10 price LT-1020
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
EPILIFT SEPARATORS
----------------------------------------------------------------------------------------------------------------------------
Each Price (not sold individually)
----------------------------------------------------------------------------------------------------------------------------
Box of 10 price EP-1010
----------------------------------------------------------------------------------------------------------------------------
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TUBING SETS
----------------------------------------------------------------------------------------------------------------------------
Each Price (not sold individually)
----------------------------------------------------------------------------------------------------------------------------
Box of 5 price EP-1015
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
LASITOME DEMO SYSTEM LT-0010-E
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
COMBINATION DEMO SYSTEM EL-0010-E
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
DEMO BLADES (UNSTERILE FOR WETLAB DEMO)
----------------------------------------------------------------------------------------------------------------------------
EpiLift Separators, (Box of 10) EP-1060-E
----------------------------------------------------------------------------------------------------------------------------
Lasik Blades, (Box of 10) LT-1025-E
----------------------------------------------------------------------------------------------------------------------------
*ALL ORDERS TO BE RECEIVED NO LATER THAN 10 DAYS PRIOR TO THE START OF THE
QUARTER TO RECEIVE DISCOUNT.
ALL PRICES ARE IN U.S. DOLLARS. FOB IRVINE, CALIFORNIA.
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EXHIBIT E
---------
BANKING INFORMATION
-------------------
PLEASE WIRE PAYMENTS DIRECTLY INTO THE VISIJET ACCOUNT BELOW:
BANK: ▇▇▇▇▇ FARGO, CA.
ACCOUNT HOLDER: VISIJET, INCORPORATED
ABA (SORT CODE) NO: ▇▇▇▇▇▇▇▇▇
ACCOUNT NO: 2018621433
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EXHIBIT F
---------
CONFIDENTIALITY AGREEMENT
-------------------------
FOR KEY DISTRIBUTOR EMPLOYEES
-----------------------------
The undersigned acknowledges that he or she may have access to
information of VisiJet, Inc. (hereafter "VisiJet") relating to its Product,
which is of a confidential and proprietary nature ("Proprietary Information").
Such Proprietary Information includes, without limitation, trade secrets,
know-how, drawings, schematics, data coding, technical documentation and
instructional materials. The undersigned agrees to take reasonable care to
prevent disclosure to and use by others of the Proprietary Information. The
undersigned shall take appropriate steps to ensure that the confidentiality of
the Proprietary Information is maintained by him or her, and all permitted users
of the Product. The undersigned shall not directly or indirectly use or permit
any other person to use the Proprietary Information. The undersigned shall not
disclose to any other party the Proprietary Information, in any form, without
the prior written consent of VisiJet, except for disclosures to users of the
Product in connection with the operation of the Product, provided that such
users have entered into confidentiality agreements in forms acceptable to
VisiJet. Upon the termination of this Agreement, for any reason, the undersigned
shall promptly return to VisiJet all documents containing Proprietary
information. The undersigned acknowledges that this Agreement shall be binding
and enforceable even in the event that the agreement with _____________________
is terminated or if the undersigned is no longer connected with said Company.
The undersigned further agrees that VisiJet has no adequate remedy at law should
this Agreement be breached and that VisiJet is, therefore, entitled to
injunctive or other equitable relief. Should any action be filed to enforce this
Agreement, the prevailing party in such action shall be entitled to reasonable
attorneys' fees and court costs. The undersigned agrees that any such action may
be commenced and heard in the appropriate court with jurisdiction of the subject
matter in the State of California.
______________________________ __________________________________
Date Signature
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EXHIBIT G
---------
(LOCAL GOVERNMENT & HEALTH AGENCY REQUIREMENTS)
(NAME OF DISTRIBUTOR)
---------------------
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